Previous research demonstrates the critical role moral disengagement plays in unethical decision-making. This study investigates the relationships among moral endorsement, shareholder-value orientation, moral disengagement, and moral judgment on issues of different moral intensities. The results of a scenario-based survey conducted in China confirm the negative (positive) impact of moral disengagement (moral intensity) on moral judgment. The findings reveal that both moral endorsement and shareholder-value orientation of decision-makers significantly influence moral judgment and that moral intensity (...) moderates the relationships between moral endorsement and moral judgment, and between shareholder-value orientation and moral disengagement. The study’s theoretical contributions, managerial implications, and limitations are discussed. (shrink)

Shareholder value orientation has been introduced as a means to improve the performance of the corporation. The paper investigates the theoretical justification for the claim that increasing shareholder value is the purpose of corporate governance. It demonstrates that shareholder value is the control principle, not the purpose of the firm. The idea that shareholder value is the only goal of the corporation is a mistaken transfer from the financial to the industrial (...) firm. The paper also questions that the merger of manager interests and owner interests introduced by the remuneration of managers by stock options improves the management performance. The self-apportioning of stock options by the management is in danger of becoming a form of insider trading. (shrink)

A survey study was conducted to look into the effect of Confucian ethics and the psychological foundations of morality on business managers' perspectives on corporate social responsibility (CSR). Using responses from 393 Chinese managers, we first conducted confirmatory factor analysis to assess the reliability and validity of the measurement model and then employed hierarchical regression to explore the relationships among Confucian ethics, moral foundations, and managers' shareholder value perspectives. The results indicate that both Confucian ethics and managers' moral (...) foundations had significant influence on shareholder value perspectives. In fact, moral foundations and Confucian ethics interacted and jointly affected managers' positions on the shareholder value model of corporate responsibility. This study demonstrates the importance of psychological foundations of morality to managers' CSR orientations and substantiates the persistent impact of Confucian ethics/cultural traditions on today' business practices. (shrink)

This paper seeks to discover whether companies that adopt a stakeholder approach, and thereby demonstrate a wider remit of corporate responsibility, provide inferior returns to those that embrace the shareholder value approach. To classify approaches, mission statements were analysed, the final sample comprising 32 shareholder oriented companies and 48 stakeholder oriented companies. To assess performance both accounting–based and market–based measures were used. A number of moderating variables were taken into account: systematic (beta) risk, gearing (long–term debt to (...) total long–term finance), tax ratios, and firm size. ANOVA and Kruskall–Wallis tests revealed that mission orientation did not affect performance, whether in terms of stock returns or excess returns. Neither were accounting returns on equity different overall, although shareholder oriented companies experienced wider variations in this measure. A number of multiple regressions were also performed. However, the mission dummy was not found to be a significant variable. (shrink)

This paper seeks to discover whether companies that adopt a stakeholder approach, and thereby demonstrate a wider remit of corporate responsibility, provide inferior returns to those that embrace the shareholder value approach. To classify approaches, mission statements were analysed, the final sample comprising 32 shareholder oriented companies and 48 stakeholder oriented companies. To assess performance both accounting–based and market–based measures were used. A number of moderating variables were taken into account: systematic (beta) risk, gearing (long–term debt to (...) total long–term finance), tax ratios, and firm size. ANOVA and Kruskall–Wallis tests revealed that mission orientation did not affect performance, whether in terms of stock returns or excess returns. Neither were accounting returns on equity different overall, although shareholder oriented companies experienced wider variations in this measure. A number of multiple regressions were also performed. However, the mission dummy was not found to be a significant variable. (shrink)

The widespread critical evidence surrounding executive compensation of listed corporations has boosted shareholder activism in recent decades. The say-on-pay (SOP) mechanism—a vote in which shareholders express their (dis)agreement with executive pay designs—is one of the corporate governance mechanisms that has led to this activism among listed firms. Merging agency and socioemotional wealth (SEW) arguments, this paper analyzes how effective SOP voting results are among listed family firms in terms of CEO compensation efficiency and equity. Using a sample of UK (...) listed firms from 2011 to 2018, our results show that SOP effectiveness is positively influenced by family ownership and is strongly moderated by family involvement in management and in governance as well as by family generation. Our findings stress the strong family effect and the ethical perceptions of family shareholders on SOP voting, showing how family participation in the firm encourages fairer and more aligned CEO compensation packages. SOP institutional and practical implications oriented to preserve shareholder value and family wealth are finally outlined. (shrink)

It has been argued amply that alternative theoretical approaches to the corporate governance phenomenon can be a valuable complement to the mainstream economic approach. However, such approaches are largely embryonic and empirical studies based on more organisationally oriented theory are few and geographically limited. The purpose of the present article is to discuss the value of organisationally oriented approaches to corporate governance as a complement to more traditional economic approaches. This is accomplished by discussing the findings of an empirical (...) study on Swedish shareholder activism in the light of institutional sociology. The study demonstrates how the preferences and actions of investors are institutionally determined, and not only influenced by regulation and law, but also by moral obligations, societal expectations and relational ties. Thus, the study demonstrates the value of complementing economic explanations with more institutionally and organisationally oriented accounts, in order to better understand shareholder activism in particular, and corporate governance in general. (shrink)

This paper is an insighful critique of the shareholder and stakeholder models of organizational purpose. The authors emphasize that both these models fail to serve as an adequate basis for explaining the purpose of an organization and are unable to capture a fuller meaning of living in an organizational community. The paper thus endeavours to introduce into the mainstream of discussion a third model, based on the idea of the common good which draws inspiration from the communitarian Catholic tradition. (...) The first part of this paper traces the idea of common good as it relates to organizations. The second part engages the common good tradition with the shareholder and stake holder models. The paper goes on to describe common good within the organization through three propositions: fundamentality, excellence and integration. The authors reiterate, however, that the idea of the common good does not provide a micro-blueprint for managers, but rather an orientation or moral compass that directs organizational activity towards human development. (shrink)

Within the past few years, a new generation has joined the ranks of business managers or is preparing to become business managers: Generation Z (Gen Z), described as individuals born between 1995 and 2010. This paper has two aims: (1) to assess the Gen Z cohort framed by their value orientation preferences (VOP) and the importance given to principled moral reasoning (PMR) using values and cognitive moral reasoning theories and (2) to compare this information about the Gen Z (...) cohort to prior generations. Using the Rokeach Value Survey and the Moral Reasoning Inventory, we uncovered support for our expectations that Gen Zs would have a balanced set of VOP—that is, similar preferences for a personal and a social value orientation and similar preferences for a competence and moral value orientation. Further, Gen Z preferences are unlike prior generations. The importance given to principled moral reasoning to resolve ethical dilemmas is lower than Baby Boomers and Gen Xers but surprisingly higher than Millennials as found in prior studies. Implications of these discoveries and suggestions for future research are presented. (shrink)

With the advent of responsible business, ensuring social responsibility in sourcing is of interest to both academics and practitioners. In this study, we examine one way of achieving this goal: ethical sourcing initiatives (ESIs). ESIs refer to a firm’s formal and informal actions to manage sourcing processes in an ethical and socially responsible manner. While ESIs have been established as an important part of corporate social responsibility, it is unclear whether, how, and when this corporate effort is economically beneficial. We (...) conduct an event study estimating the shareholder value effect of 159 publicly traded firms’ ESIs and find that the stock market reacts positively to ESIs in general. We also compare market reactions under different conditions including reactive versus proactive ESIs, and their interactions with initiative timing, firm size, and financial risk. Additionally, we find that ESIs are associated with long-term stock price and operating performance. Overall, our findings clarify the potential economic benefits of corporate ESIs and encourage buying firms to take these initiatives selectively according to business contexts. (shrink)

Incidences of organizational wrongdoing have become wide spread throughout the whole business world. The management of organizational wrongdoings is of growing concern in organizations globally, since these types of acts can be detrimental to financial well being. Wrongdoing occurs within organizational settings and organizational members commonly have knowledge of and thus the opportunity to report the wrongdoing. An employee’s decision to report individual or organizational misconduct, i.e. blow the whistle, is a complex phenomenon that is based upon organizational, situational and (...) personal factors. The purpose of this study is to examine the relationship between value orientations of individuals and choices for particular whistleblowing modes. Our results show that there are significant relationships between these variables. We contribute to the extant literature by choosing Turkey as context as most studies have been conducted in the US and Europe, and little has been reported about the actions taken by employees in non-Western cultures when they observe wrongdoing in their organizations. (shrink)

Manufacturing and industry practices are undergoing an unprecedented revolution as a consequence of the convergence of emerging technologies such as artificial intelligence, robotics, cloud computing, virtual and augmented reality, among others. This fourth industrial revolution is similarly changing the practices and capabilities of operators in their industrial environments. This paper introduces and explores the notion of the Operator 4.0 as well as how this novel way of conceptualizing the human operator necessarily implicates human values in the technologies that constitute it. (...) The design approach known as value sensitive design (VSD) is used to explore how these Operator 4.0 technologies can be designed for human values. Expert elicitation surveys were used to determine the values of industry stakeholders and examples of how the VSD methodology can be adopted by engineers in order to design for these values is illustrated. The results provide preliminary adoption strategies that industrial teams can take to Operator 4.0 technology for human values. (shrink)

Just as values are like beacons for an individual, so they are for a profession, especially for HRD—a value–based management profession. Given the sweeping changes taking place in the business environment, it is plausible that the value orientation of HRD professionals have also changed. In an attempt to understand this, the study being presented here identified 11 value orientations, with ethico–moral, customer and quality orientations the three top ranking value orientations of HRD professionals. The study (...) also discusses respondents’ rating of their organization on the encouragement provided to employees in their job to practice the values they consider as the ones guiding their professional life. It concludes that though: professionals still value strong humanistically–oriented values, business–oriented values seem to have taken priority over the same; organizations encourage practice of all the 11 value orientations, they have come a long way from the traditional welfare approach or paternalistic attitude. (shrink)

Acute stress is believed to lead to prosocial behaviors via a “tend-and-befriend” pattern of stress response. However, the results of the effect of acute stress on prosocial behavior are inconsistent. The current study explores the moderating effect of gender and social value orientation on the relationship between acute stress and individuals’ pure prosocial behaviors. Specifically, eighty-one participants were selected and underwent the Trier Social Stress Test, followed by the third-party punishment task and the dictator game. The results showed (...) that, in general, the main effect of condition or respiratory sinus arrhythmia reactivity on individual prosocial behaviors was significant and did not vary between genders. Furthermore, social value orientation might moderate the impact of RSA reactivity on the amount of punishment in the third-party punishment task. That is, individuals with self-orientation exhibited more prosocial third-party punishment as RSA reactivity decreased, while the effect did not occur for individuals with prosocial orientation. Taken together, the findings of the current study provide further evidence for the “tend-and-befriend” hypothesis and highlight the underlying physical mechanisms as well as the individual dependence of the effect of psychosocial stress on individuals’ pure prosocial behaviors. (shrink)

The present global financial crisis has revived the notion that competitive markets may lead some directors and executives to behave in opportunistic ways considered unethical and even illegal, through the pursuit of self-interest. This article proposes and tests an integrated model that offers new insights into the relationship between board structure, independence and firm value. By incorporating the proportion of independent directors on the board as a moderating factor in this relationship, this study contributes to a better understanding of (...) the entrenchment and convergence-of-interests hypotheses. Using empirical data obtained from 114 Spanish listed companies in a context of economic crisis, from 2007 to 2010, we conclude that having a board with a greater proportion of independent directors reduces the negative association existing between firm value and a large board size and significant board share ownership. (shrink)

This study investigated the relationship between cultural value orientations and country-specific changes in mobility during the Covid-19 pandemic. The aim was to understand how cultural values relate to mobility behavior during the initial stages of the pandemic. The aggregated data include Schwartz's cultural orientations, Gross Domestic Product (GDP) per capita, number of Covid-19 cases per million, and mobility change during the Covid-19 pandemic (Google Mobility Reports; percentage decrease in retail and recreation mobility, transit station mobility, workplace mobility and percentage (...) mobility increase in residential areas). Regression analyses showed that, after controlling for economy and severity of disease, hierarchy was the primary factor reducing mobility, such as staying at home, and mobility in public spaces, such as avoiding retail and recreation sites (marginally significant). The results are discussed in the light of previous literature and the implications for social distancing measures. (shrink)

The COVID-19 pandemic has changed the landscape of working conditions world-wide, fast tracking the reality of the digital-driven workplace. Concepts such as remote working, working-from-home and hybrid working models are now considered as the “new normal.” Employes are expected to advance, flourish and survive in this digitally connected landscape. Different age and generational groups may experience this new organizational landscape differently and may expect different organizational outcomes in exchange for their inputs. Accordingly, the study investigated differences regarding the value-oriented (...) psychological contract expectations of employes from different generational groups. An ANOVA test for significant mean differences and a post hoc test for multiple comparisons were conducted on a sample of employes in the services industry in Southern Africa and other European countries. The observed generational cohort differences regarding value-orientated psychological contract expectations for job characteristics and work-life balance could be utilized to develop interventions and strategies to promote retention of employes in the post-pandemic digital-orientated workplace. (shrink)

Artificial Intelligence (AI) in the 21st century is no longer perceived as a purely technological phenomenon, more and more becoming a social and humanitarian phenomenon that develops in a complex context of cultural, value, philosophical, and ethical aspects of human life. The impact of AIrelated technologies on contemporary society is still difficult to assess fully, which does not prevent enthusiastic researchers and political leaders from attempting to define a value framework that will ensure the use of AI for (...) societal development. As interest in AI grows, more and more technologically advanced countries in the world are creating their own strategies for the development and use of this technological marvel of the 21st century. These pioneering documents often seem vague and indefinite, but nevertheless they allow us to assess how the political and scientific and technological elites of these countries see the value orientations of AI technology development, both nationally and internationally. The article presents a philosophical analysis of the value orientations of AI technology development in the USA and China – modern scientific and technological leaders in this field – on the basis of strategic documents defining the development and application of AI in these countries from the position of post-non-classical scientific rationality. The authors of the article conclude that, at the contemporary post-non-classical stage of science development, the value component is not only one of the integral components of scientific and technological activities but may be decisive in determining the goals and objectives of high-tech development at the state level. (shrink)

In this study, we used the framework of institutional anomie theory The future of anomie theory, Northeastern University Press, Boston, 1997) to examine the relationship between supervisors’ ethics and their personal value orientation, including achievement and pecuniary materialism. We further investigated whether these individual-level associations were moderated by societal factors consisting of income inequality, government efficiency, foreign competition, and technological advancement. Hierarchical linear modeling was used to analyze data of 16,464 supervisors from 42 nations obtained from the 2010–2014 (...) wave of the World Values Survey. Results showed that strong achievement value orientation was positively related to willingness to justify ethically suspect behaviors; government efficiency and technological advancement, respectively, had negative and positive moderating effects on this relationship. On the other hand, foreign competition had a positive moderating effect on the association between pecuniary materialism and ethicality. (shrink)

It is attempted to define the existence and character of differences of value orientations of Greek Catholic and Orthodox Christians. There are demonstrated that such differences take place for limited numbers of values, and even when this taken place, its are modest.

In her article, Lee vouches for a reciprocity-based approach that supports an ethics of inclusion in precision medicine research and accounts for participants’ values and experiences of the...

The role of Indian ethos in management practices is explored by several management scholars and practitioners. Professor Sitangshu Kumar Chakraborty (popularly known as Professor S. K. Chakraborty, hereinafter referred to as SKC in this article) is one of the pioneering scholars of human value-oriented management practices and has made significant contributions in linking the management knowledge and practices to classical Indian ethos and Vedantic wisdom. In today’s technologically advanced and economically fast-paced world, there is a rising concern about falling (...) human values in work and in personal life, which must be addressed to understand the deeper meaning of work and a higher purpose in life. SKC’s innovative approaches to human values in management education for practising managers are quite significant in this regard. This article is a sincere attempt to explore and synthesize the contributions of SKC to the human value-oriented management that evolved around the fundamental pillars of classical Indian ethos and Vedantic wisdom and the implication of those values for today’s managers to realign their managerial practices. This article is based on a bibliometric analysis of published articles drawn from secondary sources and is a tribute to the life and legacy of SKC on human value-based management. (shrink)

The purpose of the article is to study the value orientations of student youth in the context of the transformation of national identity and national consciousness in the conditions of Russian armed aggression. The empirical basis of the article was formed by the results of the authors’ sociological research ‘Transformation of National Identity and Consciousness Among Student Youth of Ukraine Under the Influence of Russian Military Aggression’, conducted by employees of the Social Expertise Department of the Institute of Sociology (...) of the National Academy of Sciences of Ukraine, and the secondary analysis of the annual sociological monitoring ‘Ukrainian Society: Public Opinion in Ukraine After 10 Months of War’. The authors empirically confirm the fact of a sharp increase in national consciousness among student youth, who demonstrate a high level of readiness to serve their country, take an active part in public life, and want to be useful to their country during the armed struggle against the aggressor country. In the conclusions, the authors state that in the Ukrainian youth environment among students, a new type of national self-identification is widespread, the basis of which is the interdependence of norms of thinking and ideas about origin. (shrink)

A full representation of all events in society is not possible. The Weber–Rickert solution to the establishing of transparent concept formation requires both theoretical and practical value relevance, that is, our fashions of today shape our selections from the past which, though, also have to be valid for the period studied. Max Weber’s tools for the selection of relevant information without risking uncontrolled value intrusion are influenced by Rickert’s historical relativism, which, however, is not free from lingering ‘objectivism’, (...) transcendental metaphysics in the form of normatively generally valid values, while Weber only claims general empirical validity for values serving as tools for abstraction in a process of double historicity. Today’s historical conceptualizations are not immune to conjectures and fashions; there is no permanence or resistance to the ‘teeth of time’. Weber manifests the post-Enlightenment predicament of anxiety and necessity of choice, which Rickert tries to escape by an ‘Indian rope-trick’ or Icarian flight. Weber’s solution anticipates Gunnar Myrdal’s explicit value premises anchored in significant social movements; a more radical anti-metaphysics. Weber’s ‘sociology’ grew out of history and its contemporary problems. His way of dealing with the value-incommensurability problem makes him part also of a long trend of secularization. (shrink)

Abstract:Previous research has identified multiple approaches to the design and implementation of corporate ethics programs (Paine, 1994; Weaver, Treviño, and Cochran, in press b; Treviño, Weaver, Gibson, and Toffler, in press). This field survey in a large financial services company investigated the relationships of the values and compliance orientations in an ethics program to a diverse set of outcomes. Employees’ perceptions that the company ethics program is oriented toward affirming ethical values were associated with seven outcomes. Perceptions of a compliance (...) orientation were associated with four of these outcomes. The interaction of values and compliance orientations was associated with employees’ willingness to report misconduct. In general, a values orientation makes a greater unique contribution to the measured outcomes when compared to a compliance orientation. (shrink)

Abstract:Previous research has identified multiple approaches to the design and implementation of corporate ethics programs (Paine, 1994; Weaver, Treviño, and Cochran, in press b; Treviño, Weaver, Gibson, and Toffler, in press). This field survey in a large financial services company investigated the relationships of the values and compliance orientations in an ethics program to a diverse set of outcomes. Employees’ perceptions that the company ethics program is oriented toward affirming ethical values were associated with seven outcomes. Perceptions of a compliance (...) orientation were associated with four of these outcomes. The interaction of values and compliance orientations was associated with employees’ willingness to report misconduct. In general, a values orientation makes a greater unique contribution to the measured outcomes when compared to a compliance orientation. (shrink)

This paper reports on the results of an experiment conducted with experienced corporate directors. The study findings indicate that directors employ prospective rationality cognition, and they sometimes make decisions that emphasize legal defensibility at the expense of personal ethics and social responsibility. Directors recognize the ethical and social implications of their decisions, but they believe that current corporate law requires them to pursue legal courses of action that maximize shareholder value. The results suggest that additional ethics education will (...) have little influence on the decisions of many business leaders because their decisions are driven by corporate law, rather than personal ethics. (shrink)

The article offers a theoretical analysis of the incorrect overlapping of the terms competence and value, value and belief, the confusion in using the terms value and value orientation and, as a result, the definitions of the concepts value and value orientation are proposed. The study aims to determine the dynamic and specifics of value manifestation in contemporary adolescents and young people in pre-pandemic and pandemic situations. The main part of the (...) article is dedicated to the presentation of obtained experimental data research received by four instruments used to get the most complex data regarding values and value orientations held by subjects. The focus of this article is on specificity of values held/maintained by contemporary adolescents and young people, relationship between terminal and instrumental values, significance of value differences in adolescents and young people, the changes that occurred in the value orientations during the pandemic period. (shrink)

The valuing process characterizes man's conscious or unconscious striving in both personal and institutional contexts. Education helps learners to clarify, analyze, and modify their valuing processes. Therapy unifies value thinking with expressions of feeling in the therapist-client relationship.A more comprehensive value theory is provided by the converging perceptions of several leading thinkers. Both valuing (the process) and values (the goals, outcomes, or products) emerge as the bedrock of humanistic studies. A list of categories in which to classify human (...) valuing events aids the researcher or practitioner by providing a common framework and vocabulary which can bring more comprehensive coverage yet precision of analysis.A general methodology for unifying the behavioral sciences, including education, is indicated in the following generalizations:A general method assists in discovering who has access to values through institutional or personal strategies.A general method may permit the observer to gather data on comparative value profiles which would suggest or predict differentiated behaviors.A general method can indicate when a personality is self-actualizing in and congenial to a context of democracy.A general method involves setting in motion a systematic technique of thinking with values (problem-solving).A general method focuses on the individual's self-esteem, which can be appraised by systematic analyses of his value deprivations and indulgences. as a key factor in the realization of his potential as a human being.A general method would provide maximum opportunity for unlike learners to realize potential in a social context where creative and responsible use of difference makes a richer world.The challenge to education and to the behavioral sciences is to innovate techniques within this configuration as a test of its power to unify, to promote keener communication, and to open the floodgates of creativity in an age of catastrophic crises produced by man's inhumanity to man. (shrink)

Internet usage data from around the globe show that adolescents are the most frequent Internet users, but mostly for leisure activities and maintaining social contacts. In the present study, we focused on Internet use for e-services, which could improve youth efficiency in the financial domain and bridge the online divide in youth. Specifically, we explored how societal constructs influence the use of the Internet for online shopping, e-banking and communication with providers of goods and services online. We used a representative (...) sample of adolescents from 10 countries of Southeast Europe where a great variability in Internet use is present, and where the use of e-services is generally lower than the EU average. This also allowed for meaningful cross-country comparisons. We tested a structural equation model of values predicting the use of the Internet through institutional trust which was grounded in social capital theory, cultural theory and Schwartz human values model. The model exhibited a good fit to the data but the strengths of regressional paths were rather modest. Looking into the cross-country stability of the model, however, revealed some notable differences: while the relationship between trust and use of the Internet for e-services was modest in some countries, the relationship was insignificant in other countries, where Internet usage is lower in general. This suggests that strategies aimed at leveraging e-services and digital technology potential in youth should also account for cultural specificities in the transitional economies and cultural settings with sub-optimal adoption of digital services. (shrink)

This study examines the effect of integrating sustainability into corporate strategy on various aspects of shareholder value creation and financial performance in the British capital market. The employed method is based on the content analysis of corporate disclosures and a new technique for assessing the adoption of the corporate sustainability concept. Using extensive data of FTSE 350 firms covering the years 2006–2012, 65 companies were selected as meeting corporate sustainability criteria. For the above period, we find that these (...) firms were characterized by higher financial risk exposure, lower asset growth rates, lower BV/MV ratios, lower EVA ratios, and higher MVA ratios. Such relations were generally present among different size and industry groupings. The results support the thesis that firms that incorporate sustainability issues into their business operations are better able to leverage their resources toward stronger financial performance and shareholder value creation than other companies. The paper contributes to the literature by offering a more holistic approach to corporate sustainable performance measurement and shedding additional light on its relation to financial performance in the context of the recent global financial crisis and its direct aftermath. (shrink)

This research investigates managerial value orientations using the Rokeach Value Survey to assess the importance managers assign to various values. While prior work and select organizational theory posit that MVO will not change over time, the data are analyzed to determine if the MVO of mid- to upper-level managers, the key decision-makers in most organizations, has remained generally the same or has changed from one generation to another. The results show that the MVO of managers from 1990 is (...) significantly different than the MVO of managers today. The greatest difference lies in the MVO area of competence versus moral values, with more managers emphasizing a moral value orientation than previously. Therefore, the data indicate there is a noticeable shift in MVO over the past 20+ years. The implications of the results reported are discussed, along with suggestions for future managerial values research. (shrink)

In this paper, we are interested in the effects of institutional context on public attitudes towards climate policies, where institutions are defined as the conventions, norms and formally sanctioned rules of any given society. Building on a 2014 survey experiment, we conducted thirty qualitative interviews with car-owners in Oslo, Norway, to investigate the ways in which institutional context and political-value orientation affect public attitudes towards emissions policies. One context (presented as a text treatment) highlighted individual rationality, emphasising the (...) ways in which local pollution impacts the individual citizen; the other highlighted social rationality, emphasising the wider significance of carbon emissions and global responsibility for climate change. We analysed the effects of these contexts on attitudes, finding that institutional context influenced individuals' perspectives as well as their attitudes towards climate policies. Groups with different value orientations differed in terms of their evaluations but not their interpretations of these contexts. (shrink)

In the literature, CSR’s roles on firm performance are found to be positive, negative, or neutral. This inconclusive pattern suggests there may be a more complicated mechanism at work than the traditional focus on simple linear associations. We propose and test an inverted-U-shaped relationship between CSR and shareholder value, the fundamental measure of firm performance. Further, we incorporate a critical firm attribute, marketing capability, to moderate the nonlinear link between CSR and shareholder value, thereby exploring a (...) previous understudied area involving the interplay between CSR and market-side competency. The results show that an initial increase in CSR engagement positively drives firm shareholder value, but the effect turns negative when a firm pursues excessive CSR engagement. Notably, however, this negative association does not apply to firms that have a high marketing capability. Our research generates meaningful implications for a stakeholder view of CSR, strategic management, firm valuation, resource-based theories, and business practices. (shrink)

The appropriate MBA curriculum has been debated for nearly a half century. More recently, critics contend that the emphasis on functional fields in MBA education has incorrectly elevated the importance of shareholder value resulting in unethical behavior. Although some criticism of MBA programs has merit, shareholder wealth maximization should remain the dominant management objective because it is relatively easy to implement and generally consistent with the interests of stakeholders.

Values theory posits that individuals have values and they are formed by upbringing and life’s experiences and influence an individuals’ cognitive processes, decisions, and behavior. Emerging onto the business scene is a new population group, the Millennials. This research seeks to explore Millennials’ values from the viewpoint of their personal value orientation. Managerial PVO from the 1980s and 2010s are used as comparative populations. The Millennials’ PVO is generally consistent with managerial PVO from past research. They tend toward (...) a Personal, rather than Social, and Competence, rather than Moral, value orientation. Yet, some subtle differences emerged. Millennials are more self-focused and less other-focused than managers from the 1980s or 2010s. They emphasize competency skills more than today’s managers but less than the managers of the 1980s and place more worth on moral values than managers of the 1980s but less than today’s managers. (shrink)